Speaking on “Addressing Inequality” at the 14th Bali Democracy Forum held virtually yesterday, he said while the Covid-19 pandemic laid bare fundamental flaws and fractures in today’s globalised society, it had also resulted in new inequalities.

“The WHO (World Health Organization) has now become the new UN Security Council.

“Vaccine-producing countries have become the new superpowers. Big Pharma has become the new Wall Street,” he added.

Saifuddin said a highly-concentrated economy that enriched the few to the disadvantage of smaller businesses had emerged, and in the meantime, countries like Malaysia were still struggling to balance life and livelihood, and finding their way to economic recovery.

“We face a lot of problems when it comes to international financial, trade and economic architecture. We must avoid at all costs a democracy that is ‘off’ the people, ‘buy’ the people and ‘force’ the people.”

Instead, he said countries need to take holistic and integrated multi-disciplinary approaches that focused on the people in the process of recovery and development.

For a nation to prosper, he said, all spectrums of society including the state, businesses and civil society, must be included in its discussions and decision-making process.

“What is needed is not more inequality. What is required is humane equilibrium and a responsible democracy.”